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to raise taxes right now. you don't get enough revenue to deal with the deficit and by the way, we got 2.7% economic growth, which people were jumping up clapping about the markets were, but that's still pretty lousy. >> all of thatnventory build. >> that won't happen again u ben stein? >> one reason to raise taxes we have a 1 trillion dollar deficit, but igree with charlie, we've got to cut this noncess out how we need 50 billion of extra stimulus. look, we're running 3 billion a day of deficit spending, we don't even know if deficit spending is stimulative. we don't have to prove that th's stimulative. we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's showing. >> neil: adam, i'm worried that they make ahristmas tree out of this and throwing more and more ornaments because it's the next legislation that we're cobbling together we might as well put some spending in there. in this case, a minimu
spending in order to reduce trillion dollar deficits and a national debt that is now mind-boggling league not -- monotonous. house minority leader disagrees vehemently with the speaker on how to reduce deficits and debt. today she offered a paradoxical statement on fiscal policy that would make both casey stiegel and yogi berra proud. the nation now just 24 days away from $600 billion of spending cuts and tax increases that will automatically kicked in. and pelosi has some wise words for washington. please listen terror. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat. in many homes across america it is very, very lean times. you cannot cut your way to deficit reduction. lou: that's right. pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the former speaker of the house unveiling -- on dealing with the fiscal crisis one more time. >> in many homes across america ad is a very, very lean time. you cannot cut your way to deficit reduction. lou: today said minority leader appear
not the federal government and me it a big and huge one and any little niche that you can knock down the deficit is good. >> okay, but john, what happens to the states. we are finding out that california is signing up for powerball because of the revenues that they get. is it bad for states. >> it is really bad for states. wayne has much chance of winning the lottery as geth throh a comment without johnathon interrupting. >> zero. >> and the problem you have with this. this could be a biion dollar jack mots and huge and going to kill the state lottos and in the stouthe states. they were sold as a way of funding education . that didn't happen. they are dependent on the general fund. cash strapped states that depend on the lotto, you will cripple the funding for the states is it a bad idea. it robs peter to pay paul. >> johnathon, you wouldn't be cutting wayne off. >> i am keeping quiet. wayne has to check his calculator. 580 million jackpot would pate 3 percent of the national debt. we don't need a new plan to pay off theebt. we need a new philosophy and not exasbrate the debt. in a ful
car, that's part the of the problem. there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if taxes across the board and let's not forget the spending cuts that are ought mattic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. sot's both cutting and taxing, we're too focused on the tax. bottom line, the government takes it out of the system cutting and raising taxes and the small or deficit. that means tt people are going to be out of work, almost by definition in the short run. but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happen the worse case scenario, but in five years we won't be notble to borrow money. >> brenda: julian, you can go ahead and respd. >> first of all, the ernst & young study has been debunked over and over.
us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that'sbout 8% of that deficit. so does that suggt we have a tax problem or, perhaps, a spending problem? think about this taxpayers making more than $250,000 representing the top 2% paid more than 46% f all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past two ears. under those very low unshare
and deficit levels that the country is facing . someone on the democratici side saying keep them and extend . republicans saying we have to cut somewhere. that's a real discussion. >> if i tld youhere was a program that cost you 30 billion and returned 18 billion to the economy and so had a net cost of 12 billion and supported 400,000 jobbings, you would say that is a good idea it is it not a matterf reducing the deficit because in congress we have people extending tax cuts that further blow a hole in the debt ceiling. >> i don't wt to be cruel, christian. i don't want to be curt. everydollar comes back a a $1.90 a. forget about the stock market and investing and put our money in unemployment benefits. its it resting on a complete fallacy of economics that conequals wealth. it is the same that pelosi and you. cash for clunkers and house stimulus . shov ready stimulus jobbings. >> johthon why don't you listeto mark sand zandy of moody who advised john mccain's presidential anything. it is nhing to do with a progressive position it is facts and common sense. >> that'slet numbers there. john l
, for which we're responsible. there is a $1 trillion -- $1.04 trillion deficit this year, fifth year in a row we have this kind of number. we're going to, as folks used to say when i was a young fellow, this country's going to hell in a hand basket if we don't get our act together. >> and right now, we still have time. dollar's not falling. we don't have treasury bond yields soaring through the roof lou: the euro is rising against the dollar. isn't that embarrassing? >> that's not a concern to the administration or congress. lou: we should say to hell with the sound dollar. let's em brails strong competitiveness. last i looked at the trade deficit, we were, again, lagging and uke sucking popped water. there's a rising deficit stripping our gdp. >> and right now europe is in a relatively deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. how long will that be the case if we go over the cliff? >> won
't raise enough taxes to completely deal witthe deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the economy. in the meantime when we talk about raising taxes and what it would do to small business. democrats like to point out we would only raise taxes on 3% of small business owners. >> right. melissa: but that 3% generates 50% of the inme from small business. so they're hiringhe majori of people. to me that is going to cost us jobs. >> well,ou know what? i think that what will cost us jobs for sure is if we go off thissfiscal cliff, because it is not just about ising tacks. it is also about the debt ceiling. it is about unemployment insurance. we have number of key issues that absolutely have to be resolved byythe end of the
but used that money for deficit reduction because he believed that would control the economy. president clinton did listen to him. and i'll tell you, i talked to bob rubin about that anecdote where clinton says you tell me a bunch of bond traders control the economy -- i'm paraphrasing -- and rubin said, yes, i am. i asked him about that once a couple years ago, and he said it was true. it wasn't as dramatic woodward made it out to be, but it did has happen. but you didn't get that out of geithner. you kind of don't think you'll get that out of lew. he's very much aligned intellectually with president obama particularly on the notion of fairnesses. you know, you talk to economistses. should we really be raising taxes now? no. hour hour tax increases, we're going to lose the deductions -- >> probably shouldn't be cutting that much. the economy is like in a very weird state right now, kind of like i think the notion is to grow it now, you know? and, you know, this guy doesn't see that. he sees raising taxes not as an economic efficiency so to speak, but as you know, you don't get a lot of
split right down the metal on the political ppll on how they want obama to cut the deficit. 41 percent responded in favor of spending cuts. 41 percent of respondents saying they favor tax increases. the white house says it will offer a counterproposal to house speaker proposal. saying that unless he accepts tax increases on the rich the president is willing to go over the cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failure to resolve the issues. joining as, former special assistant to president george w. bush, a veteran political consultants and republican pollster. let's start, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the president is very ready because they are reading into this election last month a mandate that i simply don't see. the president got 15 million americans to vote against him which fail to produce any type of meaningful budget in his democratic controlled senate. we are at the disco club because of the president's inability to ever a si
. government budgets that are in deficit at every level. there is no other backstop other than the organizations like us and others who are serving thess communities, and that it is important to understand that we have to take a fair and balanced approach. when announcing we all money to contribute to getting our fiscal house in order. we absolutely do, but we have to do it on the spending side and we have to like all the sources of revenue, all the source of revenue, not just a charitable deductions to figure out how to get our fiscal house in order. gerri: i don't know if it will happen by the end of the month. we have a long way to go. everyone seems to be talking pass themselves. thank you for coming on. appreciate your time. great information. >> thank you. gerri: likely be hurt the most of the deductions goal weight make up tonight's top five. food for the poor. based in florida using 97% of its billion dollars in revenue for its charitable commitments. for more information visit food for the poor. the american red cross which we have heard a lot about recently in the wak
it runs up the debt and deficit. >> the best thing for my children's future. i have two boys. one 10 years and one ten months and i'm worried about climate change and their future. we need to stop encouraging the industries that are causing this problem. the oil industry, gas and coal industries. and we need to start encouraging clean energy if we will solve it. the very first place to start is to stop giving these subsidies. it is a no-brainer. the vast majority of americans of all parties actually support this perspective. melissa: without affordable energy we have no economy and that is for sure bad for my children. we have no jobs. we have no industry. >> why is the fastest growing new source of energy in this country wind energy or distributed solar. melissa: because it is completely supported by the government and by my tax dollars. >> not even close to as much as --. melissa: absolutely no money to spend on these things you know what -- >> actually big oil, gas and coal are actually much more heavily subsidized. melissa: you and disagree what is subsidy is. that is fine for debate f
on whose estimates you look at we'll have a deficit 1.1, 1.2 or $1.4 trillion a year. >> yes. melissa: none of those things curb the spending we're doing. >> no, right. melissa: that is what i thought was shocking and distressing about crunching these numbers. >> you're absolutely right. the most important way to look at iscal cliff debate, the math is fine to go through it but the most important question in my mind will there be serious structural entitlement reforms. melissa: right. >> the kinds of reforms that will yield savings well down the road, even beyond, 10, 15, 40 year windows we're talking about. what are the structural reforms that would produce those kinds of results. those are only things we should be clear. the only things that would actually make a difference. the kinds of spending you're seeing to a great extent on the fiscal cliff and president's plan and lesser extent to the republican plan, largely discretionary spending cuts. a lot coming out of defense. these are not long-term structural changes that will put us on a path to a balanced budget. that will not happen. m
, in the end, the taxes are going up. we still have a trillion dollar deficit. this does not solve anything. at best, even if they raise the money they think they will, and i don't think they will raise any money, they are still left with a trillion dollar deficit. how are you going to bring down a trillion dollar deficit? i think the democrats are on -- i had to get that off my chest. stuart: gm car and truck sales are up 3%. the stock, dead flat. sales up 3%. that is the car sales numbers coming in today. steve, i want to get back to you here. the democrats say, wait a second, wait a second, you raise taxes on the rich just like the clinton did back in 1992 and you end up with a bill. you have a solid expansion. what do you make up with that argument? >> i hope they do not believe that argument. look, maybe barack obama is right. maybe if you raise these taxes, it will not hurt the economy. [talking over each other] stuart: bill clinton raised taxes and the economy took off. >> there are a lot of things that influence the economy. not just taxes. there are other things. there is no moneta
on military spending. >> absolutel >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the probl is deeper than what you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that incdes adjustments for population growth. so what then? you increaseaxes four percent every year? that is absurd. at some point we need both parties to come together and tax this entitlement creep. we mention obama ape lot. he hasn't helped the numbers. but when you look at enment spending it goes up under a republican president. he can go in this and blame the republicans. >> i didt know there was a entitlement creep. maybe i got you wrorong. >> it is i an itch. >> and john, what about this. we have a budget if you can call it a budget that includes tax increases and no cuts at all from our treasury security. >> the tax increase aspect is ridickulous. we have a spending problem . you look at entitlements. i think it is i i don't they should exist. we did make promises and
real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term deal. it doe't get recovery. >> we're going to get a bandaid deal an
trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan. >> you did speak with the president earlier this week, can you characterize that call. also, it has to be increases in rates for the wealthy or no deal. >> the phone call was pleasant, but more of the same. it is time for the president to be serious and come back with a counter offer. [inaudible question] >> the risk the president wants us to take, increasing tax rates will hit many small businesses that produce 60-70% of the new jobs in our country. that is the whole issue. [inaudible question] >> i think that is reckless talk. [inaudible question] >> listen, raising taxes on small businesses will not help our economy and will not help those seeking work. i came out the day after the election to put revenues on the table. to take a step towards the president to try to re
achieved, but not meaningful debt or deficit reduction, no reform to entitlements, and i don't think there's tax reform. there's a deal in form, but i think there's more to get done. >> are we done? >> ask another if you want. >> do they really have to raise taxes? people accepted that's the outcome. >> i think that they need to raise revenue. how they do it, whether it's some tax increases or some limiting of deductions, but it shouldn't be hard to bridge a gap that's wider and wider. >> a matter of what it looks like, a given at this point. >> i think it is. >> higher taxes are coming. doug, thank you. ask as many questions as you want. >> you're generous with your time. >> that's what dagen does when she's here. >> she would be huck -- heckling you for your bad voice today. the supposed middleman in the debt negotiations throwing fire on the talks this week by saying nothing will get done unless republicans agree to raise tax rates on the rich. >> there you go. rich edson in dc with the latest on that. hey, rich. >> congressional republicans say the latest fiscal cliff shrugged off the
, and adopting a balanced approach to deficit reduction. and so it goes. my first guest says it does not matter who you tax or what form revenue takes him, taking more money at the private sector will hurt economic growth. joining us now, republican senator from the great state of kentucky from the senator rand paul. good to have you with us, senator. >> good evening. the president says we don't have enough time for tax reform or in thailand reeorm. you know my responses? we have been talking about this for two years. why haven't we done anything? i met with the president a year-and-a-half ago and i looke@ across the table in. i said in a we need to do something about social security. we need to do something to save medicare. they have done zero. how come there is no committee appear. d'agata washington. who is in charge of social security reform? nobody. everybody waits for a deadline and throws up their hands and says we don't have enough time. it is broken up here, but because they're not doing their job. lou: not doing their job, and whose job is it a much the republicans to start making so
's debt ceiling is clear. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has a specific proposal to achieve $600 billion in savings from entitlement programs like health care entitlement programs. >> jay compared republican pressure on the debt ceiling to a hostage taking. >> a profoundly bad idea that i think could not be more frightening for american businesses, and american workers. >> treasury secretary tim geithner may have frightened people yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frightened republicans that the debate is not just about rais
's savings. >> with a trillion dollar deficit right now. so if you cut 94 billion and nothing else changes you barely dented the deficit. the other programs are growing. we'll not see spending decline. in fact we'll likely have a emergency spending bill for sandy that is 60 billion. 94 is gone right there. >> even with a trillion dollars in cuts federal spending is on the way up every year starting with 3.5 trillion this fiscal year. nearly 3.6 trillion in 2014. 4 trillion by 2016 and 5 trillion by 2021. the cbo says even allowing 5 trillion in tax increases to hit the economy the next decade the federal government still spends $2.3 trillion more than it takes in. back to you. melissa: oh, rich edson thanks so much. adam: you think with the physical problems the country faces zooming at us like a 1959 he had sell going at us on a one way treat there would be sense of urgency. president obama has no meetings, no public appearances on the issue planned at least so far today. brad blakeman is not surprised. he says it is a clear sign we're going to go straight over the fiscal cliff. blakeman
. and a $500 billion down payment on the deficit and the debt, i think, is actually a nice piece of certainty for business so that they can plan for 2013 and 2014. it will mean an exceedingly weak first quarter next year, but i think throughout the year economic growth will get stronger. david: well, but, michael, on the other hand, sometimes if i'm certain somebody's dead, that won't bring them back to life. sometimes certainty is not necessarily good news. you say that the market is rather than on the negative side rather than on the positive side, and if we do go over the fiscal cliff, you see possibility of negative figures as low as 4%, right? >> well, let's put all this in perspective. i think what i mentioned earlier was the fact that the s&p is up about 6% since november 16th, and we've run into technical resistance with some the previous people mentioned, and i think the market's just in a period now where it could easily pull back a little bit. if you listen to the rhetoric coming out of washington, we had the everybody gave your hugs after the election, now they're throwing out the
deal. >> is a big deal because the way you eliminate a trillion dollar deficit is a billion dollars at a time. the wavy you get a billion dollars is 100 million or $10 million at a time. so what is our excuse? can we say that it is okay to waste money and hundreds of thousands of small areas that add up to trillions of dollars? or do we have to look at big areas? what i would put forward is congress isn't doing their job and how they write it and oversight it. i still pick up any of my feet on the ground because the penny is were 3.5 cents. anyone in america who is struggling today, we don't have the luxury of ignoring stupidity and waste anymore. charles: i have less than a minute. i have to squeeze this in here. you think we could be a transitional transformative point in thisscountry where it is okay? where it is okay to spend money we don't have? where the american public has given a thumbs-up to the idea? >> i do not think that they have given a thumbs up. i think this last election was about what was what will hurt our growth. but nothing in terms of discussion about the money
, 2012 it adds up close to where our deficit is. neil: a very good pnt. i wish we had more time. b s little time. more after ts. i ierrupt, you interrupt, and i ierrupt, you interrupt, and then you sende all sorts of you know how painful hearn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps blocktomach acid from splashing up- relievinghe pain quickly. t fast, long lasting gaviscon®. relievinghe pain quickly. 7,000 students droout every school day. that's a line of desks more than 4 miles long. keep students in school. visit and take the firsttep. >> rememr the-mails abouttmy interruptions? i read it through of flurry of commons that interru y too much. that dot dozens of peopl fired . for thospeople w rate the mean matte are not. >> i love you bled if interrupting people was money would be a millionaire. >> how couldnybody
a budget, three yearsithout a budget -- three yes with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax thing -- letting e difference of 37 or 38%. giving the appearance that there is a middle ground being found here, do you believe that? >> if you look at the middle ground and what is reported, they are giving specifics on taxes, but not stunning. they are saying that those tax cuts will happen 10 to 20 years from now. th is saying that congress at that time, 10 years from now, is going to agree with the spending cuts. listen, we are in this situation because coogress could not even agree on spending cuts you way when the sequester was going into effect and they failed as a super committee in november. they can't even agree on s
, which is continuing to spend and rack up massive deficits and continuing higher taxes without any plan that bears that out. remember that his budget hikes taxes and still spends $47 trillion over the next 10 years. gerri: to that point, you look at the approval rating now going down for the first time since the election at 49%. i think it tells you something. maybe american people are looking at this and it looks a whole lot like campaigning to me. it is like the election never happen. we are still campaigning on the campaign trail. today in pennsylvania, talking about what needs to be done. shouldn't he be in the white house hosting the negotiations himself instead of sending his foot soldier, timothy geithner, the fellow who put together the biggest bailout in american history? talking about someone who is going to be good at negotiating on our taxpayer dollars. i would think that timothy geithner s not the man we met i would agree with you. this is actually shocking. i'm going to say that the president won, no contest there. can we get past the campaigning? are really just shows a
dire the circumstances are with our economy deficits but they put forward a plan that did not change entitlement for 10 years, if we're in a dire point, how can you say that -- they -- we did not make -- we made the case there is a problem. but they look add solution, they said it can't be too big of a problem if you are waiting 10 years to solve it. neil: rick santorum, always a prez eapleasure senator. hardest working senator. >> hard work does payoff, it does. neil: just a few moments, senator jim demint on why he is taking a sprint. is the tea party's loudest voice in the senate leaving the tea party high and dry? he is hereafter this i'm only in my 60's... i've got a nice long le ahead. big plans. medicare doesn't pay all my medical eenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you' eligible for medare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement iurance plan, insured by unitedhealthcare insurance company. like all sta
: they are sweating a lot. >> they instigated deficit reduction it has been tough times, britain with a double dip recession this year, so, it is all about shared sacrifice, everyone from the queen, doing their bit. neil: does the queen sacrifice? >> she seen as not taking -- but all about everybody on the budget. then you have starbucks that found out, you can't move the starbucks in britain, taking away a lot of traditional british tea shops have you starbucks. it has moved in over a third of coffee shops are starbucks. past 14 years starbucks paid lesser than 1% in corporate tax rates. neil: in britain. is it legal? >> it is legal, but the loopholes have to close, to be fair to starbucks, they realized this is p, suicide, they said we do need to pay more, it will be interesting whether google and amazon will follow. neil: i am not a fan of any company that is charges $7 for a cup of coffee. it has to be made out of gold. then you could not drink it i am wondering. it seems to me, there is a disproportionate emphasis on raising taxes, the rate they brought to $55, they over did the fees, and cha
. so we're going to be in the 20s as far as deficits going forward. i think they're taunting markets. i'm hoping we don't wake up one day and markets look at what is going on here and fire right back at them. tracy: you know what? you're not wrong. that is going to happen. between that and the bond bubble bursting we have a lot to look forward to in the new year. gary kaltbaum, kaltbaum capital management. >> my pleasure, thank you. ashley: every deal is a scam, a shell game and he's right. tracy: yeah. ashley: guess what? banks are bouncing back. the third quarter proving very profitable for some of the industry's biggest names but are we out of the woods just yet? gerri willis joins us ahead to talk about that. tracy: first as we do every day at this time of day look how oil is trading. it is basically flat. $88.82 a barrel. we'll be right back. ashley: it is time to make money with charles payne. this hour we're looking at pet health specialists pet med express. charles, how fat is joe is the question? tracy: ah, fat joe. >> fat joe. i told tracy, i don't know if i told you about a m
the campaign, congratulations, you had a great victory, and let's get serious about dealing with this deficit and debt here at the end of the year. >> back to the president's comments. he had yet before to explicitly say rates had to go up on those earning $250,000 or more. that was the white house position. that is their condition now for a deal. it's in the face of what republicans want saying no rate increases; however, a little wiggle room, and the president didn't rule out a smaller rate increase than he's calling for could be a part of a final product if they get to that stage. lizly thank you very much, rich edson. david: we have a governor who says his state takes the right action to prevent falling off its own fiscal cliff and the president can learn a lot. liz: joining us now is the iowa governor, and, governor, let us just explain that to the viewers. you deal with a democratic legislature, and you managed to get things done. you could show by example. how have you done it? what do you think inside the beltway crowd is doing wrong here? >> well, they need to get past the politics,
taxes. now let's former cbo director says these cuts fail to control the greatest deficit challenge, federal health care spending. >> the future path of mandatory has been clear for a decade now. it is largely driven by health care costs and baby boom and every cbo director come to the same conclusion. you can't grow your way out of it. you can not tax your way out of it. you must change these programs. >> democrats argue if the government cuts too much spending the economy will slow further. back to you. david: rich edson, thank you very much, rich. lauren: with all the uncertainty surrounding fiscal cliff should you invest differently right now? david: one economist says investors have to look beyond the fiscal crisis. we have senior economist at oppenheimer fund joins us now. more than that, what you say you've got the perfect split. -p60/40, 60 being equities and 40 being dot, dot, dot, something else. how do you devise, some people are gold bugs say it is all gold. cash bugs, say you have to be flexible, keep it in cash. how do you divide the 40% not in equities? >> first of al
Search Results 0 to 49 of about 68 (some duplicates have been removed)